Progressive Markets published a report, Sports Apparel Market Size, Trend, Share, Opportunity Analysis & Forecast, 2014-2025, which says that the sports apparel market is expected to grow at a CAGR of 4.55% from 2018-2025.
A sports apparel is clothing that is designed to be worn during sports to enhance the comfort and performance of wearers. These apparels are made for a variety of sports for men, women, and children. They are designed for individual sports such as swimming and running and team sports such as cricket and basketball. Some examples of sports apparel include swim briefs, swim caps, jerseys, shin guards, socks, shorts and skirts with pockets, tracksuits, T-shirts, tennis shirts, football boots, riding boots, and polo shirts.
Market Drivers and Restraints:
The report details the drivers and restraints impacting the global sports apparel market growth. The industry is witnessing a phenomenal growth in the recent years due to the increase in disposable income of consumers, the growing number of fitness conscious consumers, and the growing demand for trendy and fashionable sports apparels. In addition, the rise in the participation rate of women in fitness and sports are providing opportunities for the prosperity of the sports apparel market. On the other hand, the presence of fake and low-priced products impedes the growth of the market.
The report discusses the sports apparel market based on its segmentation. The market is segmented in terms of end users, mode of sale, and geography. Based on end users, the industry is classified as men, women, and kids. By mode-of-sale, the market is segmented into retail stores and online stores. Based on geography, the sports apparel industry is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Key Market Players:
The report includes a mention of the major players operating in the sports apparel market. They include Nike, Inc., Ralph Lauren Corporation, Umbro, Ltd., Fila, Inc., Lululemon Athletica Incorporation, New Balance Athletic Shoe, Inc. and Columbia Sportswear Company. They have adopted several growth strategies such as product launches, partnerships, and acquisitions to grab a hold of a larger market share and expand their businesses. These marketing strategies also help them survive the intense competition prevailing in the market.
Key Benefits of the Market:
The sports apparel market report provides a comprehensive understanding of the global industry with the help of sports apparel market overview, sports apparel market size, sports apparel market share analysis, sports apparel market outlook, sports apparel industry statistics, sports apparel market forecast, Porters analysis, market drivers and restraints, sports apparel market trends, market dynamics, and more. The report is a useful source of guidance for market players and investors for making informed decisions and planning business goals wisely. The sports apparel market overview gives a brief idea of the overall market. The market size and share analysis help determine where the market stands and where it is going. The Porters analysis evaluates the forces that impact the competitive structure of the market. It comprises the bargaining power of buyers, bargaining power of suppliers, the threat of substitutes, industry rivalry, and the threat of new entrants. The sports apparel market forecast projects the future numbers, characteristics, and trends in the sports apparel market. It is based on the past and current market trends of the industry. The market dynamics include the drivers and restraints impacting the growth of the market. They help in determining the key players providing solutions in the field are also included in the report. Besides the overview of these players, the report also includes their financials and business segments and their recent developments.